Oil India in talks with Conoco for shale gas assets

NEW DELHI Jan 16 (Reuters) - India's state-run
explorer Oil India is in talks with U.S.-based
companies, including ConocoPhillips, to buy stake in
shale gas assets in the U.S., its head of finance T.K. Ananth
Kumar said on Monday.

"We are in talks with some of the US-based companies and
ConocoPhillips is one of them. They have met us," Kumar told
Reuters.

ConocoPhillips could not be immediately reached for comment.

Ananth Kumar said his company is looking for a minority stake
of between 20-30 percent in U.S. shale acreage with an
investment of about $200 million.